Members & Service: Building Trust in a Digital-First World

CO-OP Financial Services

By Dr. Kathy Snider, Group Owner, Engage Products

Today, the quality of your service and support – more than any other factor – impacts how members feel about your credit union. 

Consider a global study on customer service by Microsoft, revealing that 96% of consumers say customer service is an important factor in their loyalty to a brand. At the same time, one-third of consumers surveyed by American Express said they would consider walking away after just one bad customer service experience.

In today’s digital-first economy, providing good customer service is becoming increasingly challenging. According to a customer service study by Salesforce, the definition of good service continues to evolve, with consumer expectations ever increasing.

As the study reveals, good service today is fast; consumers expect a response to an inquiry in real time.

Good service is also personalized – with 72% of consumers expecting a customer service agent to “know who they are, what they have purchased and have insights into their previous engagements.”

Finally, consumers also expect service experiences to be connected – which means that, from portal to chatbot to agent and back, data on why the consumer requires service is synchronized, accessible and actionable.  In short, the left hand always knows what the right hand is doing.

Salesforce research also reveals that good service experiences are proactive – with resolutions presented before an issue or disruption even occurs.

Meeting consumer service expectations today is a tall order for any organization.  For credit unions, the reality is that members are no longer satisfied with 9-to-5 support access, next day call backs or long wait times on hold. With smartphone in hand, they have come to expect service delivered immediately, exactly when, how and where they want it. 

And while logistics are important, there is another defining factor in every service touchpoint: how the member feels about the experience.  Do they walk away feeling valued – or not?

Transforming Member Service in the Digital Age

Meeting our members’ service expectations can often feel like a conundrum: how can we make our operations faster, cheaper and more digital, yet also more human?

In truth, delivering great service via channel of choice is important; but equally important is the way in which you engage with members. Self-service channels are essential for answering the routine questions members may have.  But service is more about building connections than answering simple questions. And when it comes to more complex issues like transaction fraud or support with lending and card services, a more involved, empathetic approach is required.

The solution, therefore, is to blend self-service options with dedicated, knowledgeable service agents that provide a seamless and consistent member experience every time.

Service That Never Sleeps

CO-OP’s Contact Centers operate 24/7 to serve over 400 credit unions nationwide.  With 435 employees on staff, we handle more than 1,000,000 calls through voice and interactive voice response (IVR) technology and process more than 25,000 loan applications each month.  Both English and Spanish-speaking agents are available, as well as easy, self-service options for members.

 Watch: The Contact Center That Never Sleeps

 

Perhaps the most important distinguishing feature of CO-OP Contact Center is the coaching we provide to our service agents to address our member needs with patience and empathy.  As a result, member interactions are handled in an unscripted, personalized manner, leaving members feeling like an individual – not a case number – and instilling their confidence in your credit union brand. As digital continues to shift member expectations around service, it is this human element of the service experience that will be a key differentiator for credit unions.

Discover how to transform member service at your credit union with our latest whitepaper. Learn how outsourcing with CO-OP Contact Center will ensure that your members have access to world-class service experiences 24/7 – anytime, anywhere, on any channel.

The original article Members & Service: Building Trust in a Digital-First World can be found on Insight Vault.

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